"Insurance companies trying to compete in today's benefits market are facing more than just dramatic changes in distribution channels," said Robert McIsaac, principal, Novarica. "New enrollment systems and processes, the transition from traditional group benefits to plan-member specific voluntary offerings, coupled with consumer demands for better product availability and pricing, means insurers need to address their core systems by introducing modern, open technology which will positively affect the product manufacturing and deployment cycle, create seamless interactions to the outside world, and bring all of the data back in to support operations."

The EIS Suite 6.1 for Group and Voluntary Benefits provides a flexible administration platform for group, voluntary, and worksite benefits that can be deployed as an integrated suite or as standalone modules in the cloud or on-premise. Designed to seamlessly connect to multiple enrollment systems, the EIS Suite 6.1 is built on an open platform that allows maximum integration opportunities with exchanges, portals, mobile applications and call centers.

"We feel this release comes at a critical juncture for the benefits market," said Anthony Grosso, vice president of product marketing and strategy for EIS Group. "The extended capabilities within this release will help insurers navigate the changing marketplace with an evergreen solution that addresses not only today's challenges, but the continuing evolution necessary to handle tomorrow's needs as well."

Featuring a library of line-of-business (LOB) specific products and processes, the EIS Suite 6.1 also includes a full complement of configuration tools that can extend the solution without expensive development of custom code. Additionally, the EIS Suite 6.1 features capabilities which will help insurers improve top line results and lower operational costs, with functionality that includes:

Recordkeeping from group to individual;

Guarantee issue and individual underwriting;

Library of pre-configured product accelerators;

Single database with reuse of data from quote to claim;

Ability to bill groups or individuals;

Claims supported by world class workflow and rules;

Open technology built to connect with external systems.

"We are emboldened by the incredible response the EIS Suite has received so far from the industry," said Grosso. "It is clear that success in this dynamic marketplace requires robust technology that supports both group and individual options, enables rapid development and deployment of new products when and where consumers want them, and drives the operational efficiencies needed to improve the bottom line."

For more information about this release, EIS Group, or the EIS Suite for Group Benefits specifically, please visit the company website at www.eisgroup.com/benefits, or connect with EIS Group at the LIMRA Group Benefits and Worksite Conference at the Baltimore Marriott Waterfront in Baltimore, MD, September 3-5, 2014.